I have a Nexus 4 running stock JB 4.2 Rooted with CWM Touch and Matrix kernel.

I finally decided to flash Paranoid ROM on it and everytime it reboots the start up wizard crashes and gapps crashes. Only thing I can do is reboot the phone.

I followed the Paranoid Forum Topic steps to flash, i've flash many androids before, so this is a first for me.

But I know many people running paranoid on the internet without issues, and since I dont have more then 10 posts on xda (old account is lost in oblivion. Really old email) I cant post in the thread asking for help. I created one but no one has been able to help yet.

I was hoping someone here can help. I tried googling a general "flashed rom now crashes" etc search to see if I can fix this issue some how but nothing.

Also check that there is not a newer version of Gapps available, some ROMs need updated versions

This. I've had a few crashes on first boot on of new ROMs because the cache and dalvik cache hadn't been cleared. Also, make sure you're using the correct version of gapps; there are two versions for Jelly Bean (one for 4.1.x, one for 4.2.x), make sure you have the one for 4.2.x (20121212). If that fails, try wiping and reflashing both the ROM and gapps.

This. I've had a few crashes on first boot on of new ROMs because the cache and dalvik cache hadn't been cleared. Also, make sure you're using the correct version of gapps; there are two versions for Jelly Bean (one for 4.1.x, one for 4.2.x), make sure you have the one for 4.2.x (20121212). If that fails, try wiping and reflashing both the ROM and gapps.

See thats what I was wondering. But in the forum thead, the gapps that goes along with the rom is "gapps-jb-20121011.zip"

See thats what I was wondering. But in the forum thead, the gapps that goes along with the rom is "gapps-jb-20121011.zip"

Should I still try the latest one?

Since you're installing a 4.2-based ROM, you need to use the 20121212 version of gapps. The 20121011 version is only for 4.1. There were enough changes in the Android codebase between versions 4.1 and 4.2 that they needed to compile a new version of gapps to account for the difference.